Guidelines to implement new Agri-Agra law issuedTHE Bangko Sentral ng Pilipinas has issued a component policy on the implementing rules and regulations (IRR) of the Agri-Agra Reform Credit Act or Republic Act 10000 that pertains to banks. RA 10000, which repealed Presidential Decree 717, retains the mandatory credit allocation in that 25 percent of the banks’ total loanable funds shall be set aside for agriculture and fisheries, of which at least 10% shall be made available for agrarian reform beneficiaries. “Banks are required to submit the revised reportorial templates beginning end-December 2011 and every quarter thereafter,” BSP said Thursday. Have something to report?

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